Motoring: Assitance for Automative Sector at Hand
Recent Gauteng Business News
The presentation, says AIDC MD Barlow Manilal, is one of the most tangible responses to the crisis.
He said it was concerning that “to a large degree many struggling automotive organizations were unaware of aid made available to the sector or how to access such aid.”
The presentation, including input from the Industrial Development Corporation (IDC) and Global Africa (GA) will address funding, business linkages and sponsored technical assistance for enterprises.
The SA automotive industry is suffering from sharp declines in both local and export vehicle sales. Estimates are that the local market would reach only 350 000 vehicles this year, down from last year's 533 327 units, 2007's 676 097 units, and the record 714 000 unit sales achieved in 2006.
The local industry has also reportedly shed more than 35 000 jobs since the start of the market downturn, as dealers and manufacturers either closed their doors, or cut production volumes.
AIDC Eastern Cape Supplier Development Manager, Lance Schultz said the crisis had prompted the local industry to seek assistance from government, which led to the formation of a task team to address the situation.
“In response to this challenge, the AIDC will assist the sector unpack and access assistance schemes offered by the IDC and others,’’ he said.
“The AIDC in the Eastern Cape has been mandated by the Eastern Cape Development Corporation to assist the industry become more globally competitive and its programmes in this regard continue but a large focus right now is on ensuring that companies have sufficient resources to weather the storm and position themselves for future profits,” Manilal said.
The presentation will take place on Friday 28th August 2009 from 9.00am – 10.30am at the Nelson Mandela Metropolitan University (NMMU), North Campus Conference Centre.
For more information contact Grant Minnie : email: firstname.lastname@example.org
Business News Sector Tags: Motoring|